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INVESTMENT WITH OUT REPATRIATION BENEFITS

imageINVESTMENT IN SHARES THROUGH STOCK EXCHANGES IN INDIA :
NRIs are allowed to invest in share capital in Indian company with an overall limits of 30% of the total paid up share capital of the investee company. NRIs are supposed to take permission for investment on Form NRI from RBI.

imageINVESTMENT IN CONVERTIBLE DEBENTURES THROUGH STOCK
EXCHANGES IN INDIA :
NRIs are allowed to invest in share capital in Indian company with an overall limits of 30% of the total paid value of each series of convertible debenture issue. NRIs are supposed to take permission on Form NRI from RBI.

imageINVESTMENT THROUGH PUBLIC ISSUES :
NRIs are allowed to invest without any ceiling in equity/preference shares, and/or convertible debentures of Indian companies, not engaged in any agricultural activities including plantation and real estate business (excluding real estate development). No formality is required to be fulfilled by NRIs.

image INVESTMENT IN PREFERENCE SHARES, NON-CONVERTIBLE DEBENTURES OF INDIAN COMPANIES THROUGH STOCK EXCHANGES IN INDIA :
There is no limit for investment in this segment. Application on Form NRI has to be submitted for permission from RBI.

image INVESTMENT IN MASTER SHRES OF UTI THROUGH STOCK EXCHANGES IN INDIA :
There is no limit of investment. Form NRI has to be submitted for permission from RBI.

image INVESTMENT IN PARTNERSHIP AND PROPRIETORY CONCERNS :
There is no ceiling for investment. However, the concerns should not be engaged in any agricultural activities including plantation and/or real estate business ( excluding real estate development). No permission is required from RBI only a declaration in the Form DIN that is also from the investee company.

image INVESTMENT IN IMMOVABLE PROPERTY :
NRIs may invest without any limit. NRIs holding Indian passports are not required to seek permission whereas NRIs holding foreign passports are required to take prior approval. However, general exemption has been granted by RBI - only declaration in Form IPI 7 is required.

imageINVESTMENT IN UNITS OF UTI, CENTRAL/STATE GOVERNMENT SECURITIES, NATIONAL PLAN/SAVINGS CERTIFICATES :
These are to be purchased through a designated bank authorised to deal in foreign exchange in India without any ceiling.

image INVESTMENT IN SHARES OF INDIAN COMPANIES THROUGH PRIVATE ARRANGEMENTS :
There is no limit for purchasing of shares of the companies by private arrangements. The investee company is to take permission from RBI.

imageINVESTMENT IN SAVINGS, FIXED, AND OTHER DEPOSITS ACCOUNTS WITH INDIAN BANKS :
In the following bank account full repatriation benefits are not allowed :
NON-RESIDENT (NON-REPATRIABLE) RUPEE DEPOSIT SCHEME :
Principal amount is not allowed to repatriate, however, interest accrued is repatriable with effect from 1-10-94.
ORDINARY NON-RESIDENT ACCOUNT (NRO) :
Interest payable on this account are in correspondence with rates prevalent in resident accounts. This account can be operated jointly with Indian residents. Though no repatriation is permitted from this account, however, RBI may consider application for the same.

imageFOLLOWING AREAS WHERE NEITHER ANY CEILING ON QUANTUM OF INVESTMENT NOR NRIs NEED ANY APPROVAL FROM RBI :
- Investment in foreign currency bonds/deposit certificates.
- Investment in Commercial Paper (CP) issued by Indian companies.
- Investment in money market mutual funds.
- Deposits with companies.

imageMany more opportunities have been extended to NRIs by Indian Government other than mentioned above. Simultaneously, State Governments have also identified projects for NRI investment and reserved industrial plots for NRIs alongwith other subsidies. We will provide you information for investment opportunities in Punjab, Haryana, Rajasthan, Himachal Pradesh, and Jammu & Kashmir.

image You can email PUSHPINDER S. MATHAROO for further information regarding investment and tax planning. He is Vice President of Protech International, involved in Tax Planning of NRIs and Project Development in North India.

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PROTECH INTERNATIONAL CONSULTANCY ORGANISATION
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Phone : 91-172-703706 Fax : 91-172-657147 email : pushp@bizjoint.com